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hasn't worked itself out. there is still a business re-up cycle. and finally energy. i think energy, whether it is big or small, is attractive at this point in time. the u.s. is fighting to have more available energy than we ever thought we had in the last 30 or 40 years. and i think that industry, as it develops, will be profitable for the people in it. >> tom: a little bit of optimism from the desk of wells fargo. john manley with wells fargo funds. >> susie: good news on gas prices: they're falling after spiking because of hurricane sandy. that's welcome relief to many drivers, but it still costs more to fill up your tank now compared to a year ago. erika miller reports from one of the most expensive cities to fill 'er up. >> reporter: here in new york city, the long lines and gas rationing are finally gone, but there's more good news. like the rest of the nation, gas is actually cheaper now than before superstorm sandy. a month ago, superstorm sandy shut down refineries in the northeast, delayed oil shipments and left many gasoline stations without power. in some hard hit areas,
that getting into the energy business doesn't mean the company is turning its back on mining. under the deal, freeport will pay $6.9 billion for plains exploration and production and $2.1 billion for mcmoran exploration, a sister company it was separated from a couple of decades ago. the deal would also leave freeport with $20 billion of debt. freeport executives say getting into oil and natural gas would elp diversify the company and keep more of its assets in north america, where there's a huge shale gas boom. they estimate by next year freeport will derive a little more than a quarter of its profits from energy and the rest from mining, versus 100% from mining today. the company says it thinks demand for commodities, especially energy, will continue to grow. that could help offset the increased difficulty mining companies are having trying to find new projects in regions outside the u.s. and with interest rates currently at historic lows, the timing was right to ink the two deals. diane eaabrook, "n.b.r., chicago. >> tom: daniel rohr is a metals and mining analyst from morningstar and joi
ning their renewable energy department. ai uchida from the business desk joins us now. >> i want to tell you specifically about rechargeable batteries or storage batteries. they're use envelope households during pow area outages, they're useful to drivers who use them in place of gasoline. the people at nec in japan understand that this is a growing and important market. the japanese electronics firm will join the bidding for a bankrupt u.s. company making storage batteries. nec officials say they want to buy the failed batterymaker a 1, 2, 3 systems. the u.s. firm filed for bankruptcy protection last month. it will be up for auction in early december. sources say nec could end up paying more than $120 million to buy the company. storage batteries are a key headlight in building smart grids, the next generation in network power. smart grids are considered essential to promoting renewable energy such as polar power. demand for these batteries is expected to right globally. they provide backup in the event of power out ans due to weathe and other factors. >>> the u.s. central bank
. they note that during the first nine months of 2012 china's energy consumption fell by 3.4% from the previous year. >> translator: we made a commitment at our party congress. we prioritized building and eco friendly society. we'll make a strong effort to promote a recycle-based society. china will act on climate change with other nations. >> some delegates also want reassurance on financial support. wealthy countries have pledged to provide $100 billion per year in aid by 2020. the money is intended to help the developing countries reduce carbon emissions and adapt to the effect of climate change. time is running out for the delegates to reach a deal. many divisions remain between the participants from the industrialized and developing nations. now it may be up to the ministers attending talks to steer the conference towards a successful conclusion. >>> chinese police have detained petitioners planning to voice their complaints about corruption to the state-run broadcaster. hundreds of beijing police officers stood outside china's central television on tuesday. it was the 30th an
're vision for how to supply the country's energy need after the nuclear disaster in fukushima. the official campaign lasts 12 days. voters head to the polls on sunday, december 16th. >>> there's another launch of long rang ballistic miss. >> caller:. there mi missile. north korean officials say the launch will happen between december 10th and 22nd be the rocket will head south. may that he had similar preparations in april. that launch ended in failure. they've given their schedule and planned trajectory to the u.n. in charge of maritime safety. officials with the international maritime organization say the north koreans pn to launch twee 7:00 a.m. and noon local time. the first stage of a three stage missile is expected to fall in the yellow seat west of south korea. the second is expected to land east of the philippines. alerts to shipping companies have been issued. government officials in seoul have seen the scenario before. foreign ministry officials met separately with envoys from japan, the united states, china and russia. it's believed they discussed ways to cancel the launch. the s
from behind. for more on this, i am joined by coral davenport, the energy and environment correspondent for "national journal." you read a lot of these reports. as you read this one, what struck you as brand new? >> what's new about this report is for the past 18 years the united nation's climate change has been working towards one specific goal. that is cutting carbon emissions before the global average temperature increases by two degrees celsius or 3.6 degrees fahrenheit. that's the critical point we can't go past. it's a point of no return. what this study tells us is that the culmination of the carbon dioxide that's already in the atmosphere and the carbon dioxide that's projected to come into the atmosphere over the next few years with development from india and china is already so much that it is almost inevitable that we will go past that two-degree... that two-degree critical mark. we're pretty much onrack at this point now to go past the point that we've all been trying to avoid. >> ifill: if we go past it, what happens? >> it's a big point. the two-degree mark is the point at
. the consumer discretionary sector gained 3% in november. among utility stocks today, duke energy jumped 2.3%. the firm has been subject to a board room drama since july. c.e.o. jim rogers has agreed to retire at the end of next year. on the consumer side, wal-mart added 1.7%, ending at a three week high. this was the biggest gain of any dow jones stock today. if you use fed-ex you may be paying more next year. the delivery company will raise its grnd and home delivery shipping fees at average of 4.9% next year. the higher prices didn't lead to a higher share price today. the stock fell 1.4%. fed-ex has warned of customers seeking out cheaper shipping options. meantime, the inability to raise prices hit versign. you may recognize the company logo from the internet. verisign manages internet addresses, translating the web addresses into digits that computers use to communicate. the company won a new contract from the government oversee web addresses, but it can't raise prices. and that sent shares plunging, falling 13.2%. volume jumped tenfold. this is its lowest price since december. its
from the international energy agency, calling for the u.s. to surpass saudi arabia as the world's largest oil producer by 2020. here's one good thing to come from the destruction of hurricane sandy-- verizon customers will be getting faster, and more, telecom services. the company said today it is replacing damaged copper wires with fiber optic cable. that upgrade from older, slower copper allows verizon to offer more digital services, including bundling phone, internet and cable tv. and it means an increase in revenues for verizon. tom, that was the message from verizon's c.e.o., speaking at an investor conference today. but it didn't do much for the stock. verizon shares fell, like many of its fellow dow components trading here on the big board. >> tom: let's get going with tonight's "mark focus." with no big economic data for cues, stocks finished a lackluster day in negative territory. the s&p 500 struggled to find a clear direction and spent most of the session in the red. it ended with a small loss of two tenths of 1%. trading volume continued to be moderate-- 674 million
Search Results 0 to 7 of about 8